In May of 2018, the Town of Anthrop receives a $60,000 grant restricted for transporting all senior citizens to polling locations on Election Day in November of 2018.Required:Prepare the journal entry, and identify the fund in which it is recorded, to record the receipt of the grant.
What will be an ideal response?
In Special revenue fund:
| Cash | 60,000 | |
| Deferred inflow of resources | 60,000 | |
You might also like to view...
The ____________________ is the difference between the lowest and highest values in a data set.
Fill in the blank(s) with the appropriate word(s).
The bandwidth of a communication medium is measured as _____.
A. data per second B. rates per second C. codes per second D. bits per second
Compared with other phases of the new-product development process, the largest number of new-product ideas is rejected during the ____ phase.
A. idea generation B. concept testing C. business analysis D. screening E. test marketing
ElectraSync Inc., a large consumer electronics company, has divided each product in its portfolio into a separate strategic business unit (SBU). The desktop SBU has been experiencing drastic decline in its cash flow, and its market share has also reduced to an insignificant 10 percent. This has been attributed to the low growth in the desktop market after the arrival of tablet computers and laptops. In the context of the Boston Consulting Group (BCG) growth-share matrix, the desktop SBU will be categorized under
A. dogs. B. question marks. C. cash cows. D. stars.